Couche-Tard Launches Search for New CFO

LAVAL, Quebec — Alimentation Couche-Tard Inc.'s board of directors accepted the resignation of Vice President and Chief Financial Officer Raymond Paré, who steps down from his position Oct. 16.

Paré indicated his intention to pursue other interests and spend more time with his family.

Couche-Tard has begun the process of identifying a successor, and Paré will remain available to facilitate a smooth transition. President and CEO Brian Hannasch will be handling financial and investor queries until a successor is named.

"We thank Raymond for his contributions to the company over the past 13 years," Hannasch said. "He has been instrumental in the completion of milestone acquisitions including Statoil Fuel & Retail and The Pantry, reaching thousands more customers in dozens of new markets and multiplying our market value several times over, as well as laying the foundations for further growth with our new, global Circle K retail brand. We wish him well in his pursuit of new ventures."

Laval-based Couche-Tard is the leader in the Canadian convenience store industry. In the United States, it is the largest independent convenience store operator in terms of number of company-operated stores. In Europe, Couche-Tard is a leader in convenience store and road transportation fuel retail in Scandinavia and the Baltic countries, with a significant presence in Poland.

As of July 19, Couche-Tard's network comprised 7,987 c-stores throughout North America, including 6,556 stores offering road transportation fuel. Its North American network consists of 15 business units, including 11 in the United States covering 41 states and four in Canada covering all 10 provinces.